LeJeune Puetz Investment Counsel LLC cut its holdings in Visa Inc (NYSE:V) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,221 shares of the credit-card processor’s stock after selling 240 shares during the period. LeJeune Puetz Investment Counsel LLC’s holdings in Visa were worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in V. Highwater Wealth Management LLC purchased a new stake in Visa in the 4th quarter worth approximately $33,000. Ironwood Financial llc lifted its stake in Visa by 67.5% in the 4th quarter. Ironwood Financial llc now owns 335 shares of the credit-card processor’s stock worth $44,000 after purchasing an additional 135 shares in the last quarter. Contravisory Investment Management Inc. lifted its stake in Visa by 180.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 396 shares of the credit-card processor’s stock worth $52,000 after purchasing an additional 255 shares in the last quarter. G&S Capital LLC lifted its stake in Visa by 86.0% in the 4th quarter. G&S Capital LLC now owns 519 shares of the credit-card processor’s stock worth $68,000 after purchasing an additional 240 shares in the last quarter. Finally, First Command Bank lifted its stake in Visa by 70.8% in the 4th quarter. First Command Bank now owns 1,030 shares of the credit-card processor’s stock worth $136,000 after purchasing an additional 427 shares in the last quarter. 80.94% of the stock is owned by institutional investors.
Several analysts have recently weighed in on the stock. Raymond James restated an “outperform” rating and set a $152.00 price objective (down previously from $167.00) on shares of Visa in a research report on Thursday, January 31st. Cantor Fitzgerald restated a “buy” rating and set a $160.00 price objective on shares of Visa in a research report on Thursday, January 31st. Wedbush raised their price objective on shares of Visa from $150.00 to $162.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Jefferies Financial Group raised their price objective on shares of Visa from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Finally, restated a “buy” rating on shares of Visa in a research report on Tuesday, February 12th. One research analyst has rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $168.80.
Visa (NYSE:V) last released its earnings results on Wednesday, January 30th. The credit-card processor reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.05. The company had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.41 billion. Visa had a net margin of 50.61% and a return on equity of 39.32%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 EPS. Research analysts expect that Visa Inc will post 5.32 earnings per share for the current year.
In other news, Vice Chairman Ellen Richey sold 81,005 shares of Visa stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $139.99, for a total transaction of $11,339,889.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tullier Kelly Mahon sold 91,046 shares of Visa stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $156.29, for a total transaction of $14,229,579.34. Following the sale, the executive vice president now directly owns 120,602 shares in the company, valued at approximately $18,848,886.58. The disclosure for this sale can be found here. Insiders have sold a total of 193,531 shares of company stock worth $28,797,949 in the last ninety days. Insiders own 0.17% of the company’s stock.
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Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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